Amazon Credit Card question?

Pikeyp

I recently applied for .. and got! .. one of the Amazon credit cards recommended recently by MSE. I've taken advantage of the '0% transfer till next November' deal by moving £150+ from a higher rate card (Capitol One) to this one.

So far so good!

There's also a free £15 credit available with this card after a first purchase as folks here probably know .. and there is also 0% on any purchases on anything at Amazon.co.uk till next August!

Of course one of MSE's 'golden rules' is this ..

The card offers twelve months 0% on balance transfers, for a 3% one-off fee. While not market leading (see Balance Transfer guide) it isn't bad, though never ever use the card for both spending and balance transfers, as this breaks the golden rule and could be costly.

Now I'd like to use this card at Amazon a couple of times to get the free £15 and enjoy the 0% for a while too .. but it seems I'll be breaking the golden rule if I do!

I assume if I get everything paid off by next November I should be OK .. is that right or am I misunderstanding something here?

Thanks for any advice folks and excuse my ignorance about all this stuff!!

Eydon

You'll need to have everything paid off by next August to avoid paying any interest at all.

Are you sure about your dates though, because I've just received mine this morning and it's advertising 0% on purchases, balance transfers and money transfers until Dec 2010 provided that they are made before Feb 2010 (i.e. they all have the same end date - in which case the golden rule does not apply).

EDIT: having said that I've just logged on to activate the card and it's advertising 9 months interest free for purchases and 12 months for balance transfers, which ties in with your dates. Very confusing.

Second EDIT: my letter only says 12 months on balance transfers, cheques and money transfers - my mistake. I really should read the small print more thoroughly. So my original comment stands that you'll need to have everything paid by August to avoid any interest.

LuSiVe

I understand the terms and conditions of this card as saying that in the event of two 0% offers, payments will go towards the one that finishes first, so as long as you only make purchases at amazon and pay enough to pay them off by August, you should not pay any interest on the balance transfer until December.

Eydon

Of course, it's an MBNA one isn't it. Yes, LuSiVe is correct. If you have two balances at the same rate then they allocate payments to the one ending first (I'm currently taking up the same offer on my Virgin card).

Pikeyp

Thanks for the great advice folks!!

I was just worried about any 'hidden' pitfalls .. I would have it all tied off by August foe sure!